PVR books PAT of Rs 12.93 crore for Q3

CHENNAI: Multiplex cinema major PVR Ltd on Thursday said it closed the third quarter of FY23 with a net profit of Rs 12.93 crore.

In a regulatory filing, the company said it had logged an after tax profit of Rs 12.93 crore for the quarter ended December 31, 2022 (Q3FY22 net loss of Rs 24.53 crore) on a total income of Rs 858.96 crore (Rs 626.28 crore).

The company's total expenses for the period under review stood at Rs 837.56 crore (Rs 664.56 crore).

Meanwhile, the company said the National Company Law Tribunal (NCLT), Mumbai Bench, has through its verbal order, allowed the proposed scheme of amalgamation between PVR Ltd and INOX Leisure.

The company expects to complete all the legal formalities with respect to proposed merger including issue of PVR shares to Inox shareholders within the next 45 days of receipt of certified true copy of the order passed by the NCLT.

"With the verbal approval for the merger coming through from NCLT, we are tracking well within the projected timelines for the closure of the transaction. We intend to complete all the formalities within the current financial year," Chairman cum Managing Director Ajay Bijli said in a statement.